e-Payments, a roadmap

The permanent exhibition of the Museum of the BoG relates (among other things) the history of money, from the pre-coin era and the invention of coinage, to banknotes and plastic cards, the undisputed protagonists of the very recent past in the field of payments. However, the use of new technologies and the need for ever more fast and easy transactions have led to a further development in the way payments are carried out today. Thus, electronic payments, money in its digital form and its uses, lie at the heart of this new temporary exhibition, which comprises three main parts: 

The first refers to the Means of Payment, where the narration starts with the understanding of the importance and indispensability of a payments account, which the holder can use to carry out transactions with third parties (merchants or other natural persons) in order to cover his/her needs. The means of payment to be selected each time depends on the nature of each specific transaction and a detailed description of the available means enables visitors to identify the most suitable one. The exhibition focuses on the four main cashless means of payment, namely Credit Transfer, Direct Debit, Cheque and Payment Card, which are analysed through photographic material, relevant exhibits (objects), interactive applications, as well as a presentation of statistical and historical data. All individual subsections underscore the role of the BoG in the successful processing of payments, while the thematic unit as a whole also incorporates an electronic quiz game that allows visitors to test the knowledge they’ve just acquired. 

The second part deals with the Roles Involved in a payment. In more detail, from the most straightforward transaction of a fund transfer between two accounts held at the same bank, to the most complex case of cross-border payments outside Europe in a foreign currency, the exhibition familiarises the visitors with the institutions, the required infrastructures, the roles involved and the procedures followed in order for a payment to be completed, presenting illustrative audio-visual material that vividly explains the whole process for each means of payment. In addition, visitors can use a relevant interactive IT application installed at the six permanent PC terminals found at the upper level of the Museum. 

Finally, the main room of the temporary exhibition places greater emphasis on the two most commonly used means of e-payments: Credit Transfer and Payment Card. Here, with the help of infographics it presents the basic principles and the functioning of these two payment means, while through a smart device (e.g. a mobile phone) visitors can download and use an e-wallet application with which to make fictional payments. Outside the Museum, the same smartphone application serves as a fun quiz game, related to the subject matter of the exhibition.

Prepare for your visit and watch the introductory video of the temporary exhibition: